Nextdoor Holdings, Inc. (NYSE:KIND) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET
Company Participants
Matt Anderson - Head of IR
Sarah Friar - CEO
Michael Doyle - CFO
Conference Call Participants
Robert Zeller - Truist Financial
Eric Sheridan - Goldman Sachs
Ron Josey - Citi
Brian Fitzgerald - Wells Fargo
Mark Mahaney - Evercore ISI
Operator
Hello, everyone. Thank you for attending today's Nextdoor Second Quarter 2023 Earnings Call. My name is Sierra, and I'll be your moderator today. [Operator Instructions].
I would now like to pass the conference over to our host, Matt Anderson, Head of Investor Relations of Nextdoor. Please proceed.
Matt Anderson
Thank you, Sierra. Good afternoon, and thank you for joining us today to review Nextdoor's second quarter 2023 financial results. With us on the call today are Sarah Friar, Chief Executive Officer; and Mike Doyle, Chief Financial Officer.
During this call, we may make statements related to our business that are forward-looking statements under Federal Securities Laws. These statements are not guarantees of future performance. They are subject to a variety of risks and uncertainties. Our actual results could differ materially from expectations reflected in any forward-looking statements. For a discussion of the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC's website and in the Investor Relations section of our website as well as the risks and other important factors discussed in today's earnings release.
Additionally, non-GAAP financial measures will be discussed on today's conference call. A reconciliation of these measures to their most directly comparable GAAP financial measures can be found in the Q2 2023 Shareholder Letter released today.
With that, I'd like to turn the call over to Sarah.
Sarah Friar
Thank you, Matt. Q2 with a strong quarter for us, as we delivered year-over-year growth across our key metrics of weekly active users or WAU, and revenue as well as adjusted EBITDA margin improvement.
Starting with neighbors, WAU was 13% year-over-year to 41.6 million globally. While WAU declined slightly sequentially, we added 1.6 million WAU in the first half of the year. We also saw strength and underlying engagement trends, most notably sessions that which has increased 24%, since the end of 2022. We are successfully executing on our 2023 product initiatives to increase the number of neighbors and organizations on the platform, deepen engagement by driving content creation and personalization and enable sustainable advertiser and revenue growth, through ad platform development.